CDW Corporation $CDW Holdings Increased by Sowell Financial Services LLC

Sowell Financial Services LLC grew its stake in CDW Corporation (NASDAQ:CDW) by 113.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,779 shares of the information technology services provider’s stock after purchasing an additional 4,128 shares during the quarter. Sowell Financial Services LLC’s holdings in CDW were worth $997,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Parkside Financial Bank & Trust grew its stake in shares of CDW by 48.1% during the second quarter. Parkside Financial Bank & Trust now owns 268 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 87 shares during the period. V Square Quantitative Management LLC increased its holdings in CDW by 2.8% in the third quarter. V Square Quantitative Management LLC now owns 3,252 shares of the information technology services provider’s stock valued at $417,000 after purchasing an additional 89 shares during the last quarter. Root Financial Partners LLC increased its holdings in CDW by 54.7% in the first quarter. Root Financial Partners LLC now owns 263 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 93 shares during the last quarter. CX Institutional lifted its stake in CDW by 4.0% in the third quarter. CX Institutional now owns 2,585 shares of the information technology services provider’s stock valued at $331,000 after buying an additional 99 shares during the period. Finally, Studio Investment Management LLC lifted its stake in CDW by 6.0% in the second quarter. Studio Investment Management LLC now owns 2,667 shares of the information technology services provider’s stock valued at $375,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of CDW stock opened at $165.11 on Friday. The company has a market capitalization of $20.64 billion, a PE ratio of 19.84, a PEG ratio of 2.16 and a beta of 0.95. CDW Corporation has a 12 month low of $97.12 and a 12 month high of $166.15. The company has a current ratio of 1.17, a quick ratio of 1.05 and a debt-to-equity ratio of 1.97. The stock’s fifty day simple moving average is $144.83 and its 200 day simple moving average is $135.12.

CDW (NASDAQ:CDW) last posted its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.11. CDW had a return on equity of 50.61% and a net margin of 4.60%. The firm had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the company posted $2.60 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts predict that CDW Corporation will post 10.33 EPS for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Tuesday, August 25th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.5%. CDW’s dividend payout ratio (DPR) is currently 30.29%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CDW. Barclays decreased their target price on CDW from $150.00 to $148.00 and set an “equal weight” rating for the company in a research report on Monday, September 21st. Citigroup increased their price target on shares of CDW from $123.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of CDW from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Finally, Morgan Stanley boosted their price objective on shares of CDW from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $150.12.

Insider Buying and Selling at CDW

In other news, insider Elizabeth Connelly sold 26,695 shares of CDW stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $137.62, for a total transaction of $3,673,765.90. Following the transaction, the insider owned 34,215 shares in the company, valued at $4,708,668.30. The trade was a 43.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is owned by company insiders.

CDW Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.